AP Macro Review 4

AP Macro Review 4

Assessment

Flashcard

•

Social Studies

•

12th Grade

•

Practice Problem

•

Easy

Created by

Wayground Content

Used 1+ times

FREE Resource

Student preview

quiz-placeholder

37 questions

Show all answers

1.

FLASHCARD QUESTION

Front

Which of the following graphs best depicts the Phillips curve model of Te Rehunga based on this AD-AS model?

Media Image

Back

Media Image

2.

FLASHCARD QUESTION

Front

Assume that the velocity of money in Theopolis is 3 and the aggregate supply curve is vertical at $100 million. What impact will an increase in the money supply have on real output?

Back

There will be no impact on real output

3.

FLASHCARD QUESTION

Front

Which combination of monetary and fiscal policy would be appropriate to return Mithrim's economy to full employment given a natural unemployment rate of 5% and a current rate of 2%?

Back

Increasing taxes; open market sales

4.

FLASHCARD QUESTION

Front

In the graph of the Phillips curve above, an economy moved from point 1 to point 2 to point 3. Which of the following would be the most likely reason for the movement from point 2 to point 3 shown in this graph? A change in the natural rate of unemployment, An increase in aggregate demand, A decrease in aggregate demand (AD), A decrease in short-run aggregate supply (SRAS), An increase in short-run aggregate supply (SRAS)

Media Image

Back

A decrease in short-run aggregate supply (SRAS)

5.

FLASHCARD QUESTION

Front

The economy of Rivendell experienced the AD shock shown in this graph. Which of the following combinations of monetary and fiscal policy would be appropriate to combat the effect on the price level shown in this graph? Increase taxes; open market sales, Sell bonds; increase the reserve requirement, Decrease taxes; increase government spending, Decrease taxes; decrease the reserve requirement, Increase taxes; decrease the reserve requirement

Media Image

Back

Increase taxes; open market sales

6.

FLASHCARD QUESTION

Front

This graph shows the trade-offs facing an economy that produces only two goods.

Media Image

Back

Production possibilities curve

7.

FLASHCARD QUESTION

Front

Point ___ is impossible with existing resources and technology.

Media Image

Back

X

Access all questions and much more by creating a free account

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

Already have an account?